Cardano Price Could Close May Below This Multi-Year Support — What’s Next?
After hitting its cycle high final August, the Cardano worth has continued in a downward slope towards lows not seen since 2024. Despite the calls of an altseason early into May, the ADA token has erased all of the beneficial properties realized at the start of the month. Interestingly, the present Cardano worth construction suggests the altcoin could also be susceptible to additional draw back within the coming months if it closes beneath a big help degree in May.
ADA Price Could Fall 78% If This Support Is Broken
In a May thirtieth put up on the X platform, crypto analyst Ali Martinez revealed that the Cardano worth has been hovering round a make-or-break degree over the previous couple of weeks. Looking on the highlighted month-to-month chart, the altcoin is susceptible to closing the month of May beneath a serious historic help degree.
As proven within the chart beneath, the Cardano worth has been trending inside a multi-year channel formation since 2021. After reaching the higher boundary of the channel at $1.195 in early 2025, the cryptocurrency’s worth has been in a gentle decline, shedding a big help degree round $0.544 final November.
Now, as Martinez recognized, the following definitive ground in sight for the Cardano worth is round $0.247, which has acted as main help previously. In truth, this help degree kick-started the last rally that noticed the value of ADA attain $1.195.
However, the Cardano worth has drifted beneath this help degree over the previous few days, falling to as little as $0.232. With the top of May quickly approaching, it might be attention-grabbing to see whether or not the ADA candlestick ultimately closes beneath the $0.247 ground over the following day.
Martinez wrote within the X put up:
As the month-to-month shut approaches, sustaining a place beneath $0.247 alters the rapid market construction, suggesting a deeper valuation part is underway.
According to the crypto analyst, if the Cardano worth sustains its shut beneath this historical support level, the following “high-conviction macro targets for long-term accumulation” lie round $0.113 and $0.051. Essentially, traders might see the value drop by almost 78% (from the present worth level) if ADA stays beneath $0.247.
However, it’s price noting that the altcoin might bounce again to round $0.544 if this main channel help holds and demand returns to the crypto market.
Cardano Price At A Glance
As of this writing, the value of ADA stands at round $0.237, reflecting an over 2% bounce previously 24 hours.
